Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.) Laker Company reported the following January purchases and sales data for its only product. Units sold at Date Activities Units Acquired at Cost Retail Jan. 1 Beginning 140 units @ $6.00= $ 840 inventory Jan. 10 Sales 100 units @ $15 Jan. 20 Purchase 60 units @ $5.00= 300 Jan. 25 Sales 80 units @ $15 Jan. 30 Purchase 180 units@ $4.50= 810 Totals 380 units $1,950 180 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Exercise 5-3 Perpetual: Inventory costing methods LO P1 Required: 1. Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. 2. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. 3. Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. 4. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Complete this questions by entering your answers in the below tabs. Required Required Required Required 2 3 4 Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Ending Cost Units Unit Ending Sold Cost COGS Inventory Per Inventory Units Unit Cost Purchase Date Activity Unit Cost Units Jan. 1 140 Beginning inventory Purchase Purchase Jan. 20 Jan. 30 60 180 380 0 0 0 $ 0 Required 1 Required 2 > Complete this questions by entering your answers in the below tabs. Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. (Round cost per unit to 2 decimal places.) Weighted Average - Perpetual: Goods Purchased Inventory Balance Cost per Cost of Goods Sold # of Cost per Cost of units unit Goods Sold sold # of units Date # of units Cost per unit Inventory Balance unit January 1 140 @ $ 6.00 = $ 840.00 January 10 January 20 Average cost January 25 January 30 Totals Complete this questions by entering your answers in the below tabs. Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Goods Purchased Cost of Goods Sold Inventory Balance Date # of units Cost per unit # of units sold Cost per unit Cost of Goods Sold # of units Cost Inventory per unit Balance $ $ 6.00= 840.00 January 1 140 @ January 10 January 20 January 25 January 30 Totals Complete this questions by entering your answers in the below tabs. Required 1 Required 2 Required 3 Required 4 Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO: Goods Purchased # of Cost units Cost of Goods Sold # of units Cost Cost of Goods sold per unit Sold Date per unit Inventory Balance # of units Cost Inventory per unit Balance $ 140 @ $ 6.00 840.00 January 1 January 10 January 20 January 25 January 30 Totals